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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

September 29, 2020

During the COVID-19 pandemic, commodity and industrial product prices will provide indications of large changes in demand and/or supply.  The data presented in this article are price indices for Canadian Raw Materials and Canadian Industrial Products. 


From February 2020 to August 2020, there were price declines in crude energy  (-16.6%), and Logs, pulpwood, natural rubber and other forestry (-4.3%). Metal ores and concentrates were up 19.2%. The overall raw material index down 2.7%.

Most raw material and industrial product category prices were in balance, with only small changes from February to August.



Declines occurred in Industrial prices for Energy and petroleum (-19.5%), Chemicals (-3.1%), Primary ferous metals (-1.7%), Packaging materials (-1.0%), Furniture (-0.8%), Electrical (-0.7%), Pulp and paper (-0.5%), Motorized vehicles (-0.3%), and -0.1% in Clothing and Machinery. There was no growth in  Cement and Textiles and leather. Gains in Primary non-ferrous metals (12.7%), miscellaneouys products (4.9%), lumber (4.7%), Meat fish and dairy (0.5%), Fruits and vegetables (0.4%), Plastic/Rubber (0.3%), Tobacco (0.2%) and, at 0.1% Fabricated metal and Beverages. The overall decline in the industrial product price index was 1.5% over the February - August period.


Comparison of price changes for detailed commodities often shows little variation from one month to the next.  The following results show year-over-year (Jun-20 vs Jun-19).  Canadian raw material and industrial product price changes for selected goods that are produced in Nova Scotia and well as for energy products.


Source: Statistics Canada:  Table  18-10-0030-01   Industrial product price index, by product, monthlyTable  18-10-0034-01   Raw materials price index, monthly

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